Nifty ends marginally lower but holds above 10,000 , up 1% for week

The benchmark Nifty50 pared losses in the last leg of trade to end the first day of August series above 10,000-mark, up 1% for the week. Sensex, on the other hand, also ended marginally lower for the day but up 1% for the week. The street was dragged down by after Dr. Reddy’s extended fall for the second straight day post weaker Q1 quarterly earnings. Negative cues from Asian markets after US tech shares pulled Wall Street slightly lower also contributed to the losses.

Housing Development Finance Corporation (HDFC) shares touched a fresh all-time high of Rs 1,798, up as much as 4 percent in afternoon trade. The rally was in addition to 5.83 percent upside seen in the previous session.

It was driven by value buying, especially after June quarter earnings. Even analysts retained their positive stance on the stock.